UDC Finance, whose owner ANZ New Zealand has earmarked for a possible share market float, has delivered an 8 per cent rise to $32.7 million in the first half to March, the bank said.
Overall revenue was $66.3m, an increase of 10 per cent, driven by increased lending, off the back of an improving economy, a buoyant motor vehicle sector and people investing in plant and machinery.
The result was achieved against a backdrop of tighter margins.
UDC chief executive Wayne Percival said UDC's lending passed the $3 billion mark for the first time during the period.
"We're pleased with this result and also very grateful for the ongoing support we've received from our customers during a period of uncertainty about our ownership," Percival said in a statement.